Oil and gas (O&G) operating company FourPass, alongside funds managed by Oaktree Capital Management, has announced a partnership to buy and operate large-scale, producing oil and gas assets.
Oaktree’s $900m commitment consists of $600m in initial equity, with an option to invest an additional $300m.
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FourPass Energy CEO Ben Jackson said: “Having participated in the A&D market over the past seven years, we understand the opportunity set requires a sizable equity commitment as well as flexibility and creativity when structuring transactions.
“Our partnership with Oaktree fulfills each of these requirements, which will be a key differentiator for us. We’ve built a strong acquisition and operations team with this opportunity in mind, and we’re proud to have Oaktree partner with us in this endeavour.”
FourPass is led by former executives of Felix Energy.
Oaktree Opportunities Funds North America co-head Brook Hinchman said: “We are excited to partner with the FourPass management team. Amidst an evolving energy landscape, the FourPass team has unparalleled experience in pursuing its strategy of acquiring producing, cash-flowing assets and delivering investor returns through excellent execution.
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By GlobalData“Oaktree’s equity commitment will allow FourPass to apply its proven framework to larger acquisition opportunities, which we believe will generate attractive returns to our investors over the long-term.”
Headquartered in Denver, Colorado, FourPass Energy is a privately held operator of upstream oil and gas assets.
